Dec. 16 (Bloomberg) -- Italy’s benchmark FTSE MIB Index
fell for a second day, losing 43.65, or 0.2 percent, to
20,366.62 at the 5:30 p.m. close in Milan.

The following stocks were among the most active in the
Italian market today.

Assicurazioni Generali SpA (G IM) fell 2 percent to 14.72
euros, its second day of losses. The insurer forecast full-year
operating income at the “high end” of a range of 3.6 billion
euros ($4.8 billion) to 4.2 billion euros.

Generali also said it cannot make a bottom-line forecast
for the year at this time because of “market movements.”

Deutsche Bank AG said in a note that “we believe that the
market consensus estimates on 2010 net profits might be reduced
going forward to take into account the financial markets’
volatility in the fourth quarter.”

“We acknowledge there are specific factors that mitigate
Italian sovereign-risk concerns, but remain cautious on the
outlook for Italian banks until the problems in weaker periphery
countries are resolved,” the brokerage said in a note today.

Marcolin SpA (MCL IM) jumped 7.3 percent to 4 euros, its
highest-ever price. Mediobanca Securities initiated coverage of
the eye-wear maker with an “outperform” recommendation and a
price estimate of 5.13 euros. The brokerage cited “improving
fundamentals and recovery of the profitability gap thanks to the
full benefits of the reorganization plan implemented over the
last three years.”

Saipem SpA (SPM IM) rose 1.1 percent to 34.74 euros,
gaining for a third day this week. Saipem and Kharafi Group of
Kuwait signed a 1.4 billion-euro contract to develop the
Jurassic oil field in the Persian Gulf country’s northern
region, the official Kuwait News Agency reported. The field will
produce 150,000 barrels of oil a day and Saipem will operate the
field for five years under the contract signed today in Rome,
the report said.

Separately, the company said in a statement that it won
about $700 million in offshore contracts between 2011 and 2014
in the Gulf of Mexico and Kazakhstan.